The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Have a great Business Idea but no money, any suguestions?

Idea threads

w4rl0rdx

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
29%
Sep 2, 2009
41
12
39
Michigan
I wish that I was a millionaire; that's what I was originally going to call this post. As Cat_ stated in an earlier thread I just read, Money = Choices. And oh, it must be nice to have them.

While I was sleeping one night I had a dream that I opened a fast food restaurant (Rally's, It's kinda like a Burger King or McDonald) In the new town that I just moved too. Why Rally's? because there isn't one here currently and I loved eating it back where I previously lived and I think it would do well because this is a tourist town and we have a bunch of fast food places here. Meanwhile one of my friends here wants to open a Paintball Course, because for some reason paintball is big here, so that was in my dream too... Anyways... Enough background here is the pitch.

[FONT=&quot]Paintball Building – 2 Sides / Fields + Executive Office for Desk, Big TV & Videogames[/FONT]
One side/area will have normal paintball field.
If it Costs 15$ for a normal game of paintball this course could cost 10$
Second side/area will be an advanced paintball field, maybe a Cooler/Harder Course
This Course could cost 20$ BUT the participants would be given a coupon for a free Rally Burger/or Spicy Chicken Sandwich. Once at Rally’s The Clerk would see that Special Coupon and give them another coupon for a 5$ off discount to use for the advanced/20$ Course thus making it only 15$, Same Price as everyone else but it would be a better course and they would get free Rally Sandwiches.
[FONT=&quot]The Paintball Building & My Rally’s Restaurant would work in conjunction with each other.[/FONT]
Also there could be different Themes for both paintball Fields/Areas. One could be wooded the other could have tubes and buildings to hide behind.
[FONT=&quot]Not sure, just a thought, don’t know much about paintball![/FONT]

More Background/Concerns:

Now... My friend already has a vacant paintball location/building already picked out but I'd have to talk to him more about that to see what the startup costs for that would be.

As for the Fast food Restaurant that can be franchised and they supposedly help you pick out locations, train you, etc. BUT...

1. Supposedly back when this city was alot smaller there was a Rallys here and it must have failed because its not here anymore, WHY?? Possibly bad location? No Business? Idk. I'd have to look into it more and see.

2. Franchise Qualifications, Can I take out a loan from a bank? Has anyone on these forums been a franchisee before? ...check this out, according to there website.

Do I Qualify:


"Culturally, it is essential to ensure you are the right fit for us, and that Checkers is the right fit for you. Financial requirements are also vital. If you are interested in opening a single Checkers restaurant unit, you must have a minimum net worth of $750,000 (excluding your primary residence)of which $250,000 should be in "liquid" assets. If you are a franchisee prospect desiring to acquire an Area Development Agreement to develop multiple Checkers restaurants, you must be able to demonstrate sufficient net worth and the capital to fund your business objectives.

These numbers are just a minimum and could vary by the loan requirements of your lending institution."

Any chance I could get a loan from a bank? Should I check for angel investors around my area? Just wait a while? ...What do you guys/gals think, any advice/sugguestions?

Ps. If only I knew where to find some Millionaire Entrepreneurs to help... :smx19:
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

w4rl0rdx

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
29%
Sep 2, 2009
41
12
39
Michigan
Lol wtf, click where?
 

kurtyordy

Bronze Contributor
User Power
Value/Post Ratio
12%
Aug 28, 2007
2,365
282
46
PA
ok, now that we have gotten rid of the spammer, lets see what we can do here-

Please clarify a little bit. Are intending to own both businesses, one of the businesses, or just eat at Rally's?

Also, do not put a whole lot of stock in your dreams while you sleep. I once dreamed I was a monkeys uncle but now matter how much I tried I could not convince my sister to adopt a baby monkey as her child.
 

Forbes

New Contributor
User Power
Value/Post Ratio
14%
Jun 3, 2010
93
13

Any chance I could get a loan from a bank? Should I check for angel investors around my area? Just wait a while? ...What do you guys/gals think, any advice/sugguestions?

of course you can get a bank loan. Be ready to be turned down a lot though but it's part of the process. Getting loans from banks in a numbers game so don't get disheartened if you are denied repeatedly.

Business guru Dan Pena teaches to put up a dream team to back you up when facing banks. With an exceptional track record, these veterans will automatically give you the reputation you need to raise capital. [REMOVED BY MODERATOR]
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

w4rl0rdx

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
29%
Sep 2, 2009
41
12
39
Michigan
ok, now that we have gotten rid of the spammer, lets see what we can do here-

Please clarify a little bit. Are intending to own both businesses, one of the businesses, or just eat at Rally's?

Also, do not put a whole lot of stock in your dreams while you sleep. I once dreamed I was a monkeys uncle but now matter how much I tried I could not convince my sister to adopt a baby monkey as her child.


Well, Right now I'm just trying to work out a future game plan. I just want to own the Rally's and Eat there. I would have to hire managers and workers etc. but after that I'd probably just stop in once and a while to check up on them to see how things are going if I could get away with that.

As for the Paintball Recreation facility, I would probably want to work on that shortly after Rally's Or at the same time if I had enough money to do both. I would have to work that out with my friend we could probably have joint ownership or work something out. As long as I got some kind of cut.

This is all assuming I had the money to do both ventures at once. Just need to win the lotto first. ;) Or... Maybe I could work on Internet Marketing / CPA and make good money with that ---> then go to the bank for loans.

Btw, to wrap it up my dream ended by Having those two places open at the same time and there was a huge ribbon cutting ceremony event and Rally's and (since MJ DeMarco somehow ended up funding my two ventures he also surprised everyone by showing up in that orange lambo & giving a speech.) after that we talked for a bit and he let me ride in the lambo; drove to the airport because he had a flight out later that night. He left on the plane and I got to keep the car, because my car is falling apart. ...I kinda woke up wondering how much I would have to pay for the insurance never owning a sports car before (lol).

Its not like I turned into a monkey so it might not be impossible.
 

kwerner

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
19%
Oct 4, 2007
1,385
265
Btw, to wrap it up my dream ended by Having those two places open at the same time and there was a huge ribbon cutting ceremony event and Rally's and (since MJ DeMarco somehow ended up funding my two ventures he also surprised everyone by showing up in that orange lambo & giving a speech.) after that we talked for a bit and he let me ride in the lambo; drove to the airport because he had a flight out later that night. He left on the plane and I got to keep the car, because my car is falling apart. ...I kinda woke up wondering how much I would have to pay for the insurance never owning a sports car before (lol).

:smx1:

0F0B58CAA3DE4D72AAE4A325F759F8FF.gif
 

EastWind

Bronze Contributor
User Power
Value/Post Ratio
34%
Oct 31, 2009
685
231
USA
it is much easier to come up with a "great idea" that will work if you throw lots of cash behind it THAN it is to come up with a REALLY GREAT IDEA that will work with bootstrap, more sweat equity and less cash.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

sswift

New Contributor
User Power
Value/Post Ratio
7%
Mar 11, 2010
98
7
Miami
eastwind speed plus! w4rl... Good ides with the rally's. Along those lines- Down here in South FL the closest sonics is in Orlando, but they are always advertising in Miami and Broward (I guess its part of the package). I can guarantee that if a Sonic opened in Miami it would do amazing off the simple fact that its been getting free advertising for YEARS before it opened. BUT.. that is all it will ever be (an Idea) unless you START TODAY!... your pitch was ehhh.. it seemed like subconsciously you were hoping for a well off fast-laner to say "oh I love rally's! heres a million for start up!" but that was just my interpretation. Wheres your plan? wheres the numbers? If your going to a bank, you better have some solid #'s to back it up! I'm Not trying to be discouraging... its just a lot easier to get people to throw money at you if they can physically see how they will get it back with some interest... and one last note, franchising a ralllys is not fastlane. Owning the rallys franchise corp is. Are you going to be a passenger or driver?
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
445%
Jul 23, 2007
38,079
169,495
Utah
Business guru Dan Pena teaches to put up a dream team to back you up when facing banks. With an exceptional track record, these veterans will automatically give you the reputation you need to raise capital. [REMOVED BY MODERATOR]

C'mon dude, it is getting OLD REAL QUICK. I think it is obvious you were hired by "business guru Dan Pena" to pimp his shit and his overpriced book. Keep it up and you will be removed from this forum. This is not a place to promote your cloaked fly-by-seo strategies.

Oh gee, and an IP address from China too! We aren't idiots around here and this shit might fly on other forums, but not here.
 

Red

Nigerian Lottery Prince
FASTLANE INSIDER
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
353%
Feb 23, 2010
1,135
4,007
Phoenix
C'mon dude, it is getting OLD REAL QUICK. I think it is obvious you were hired by "business guru Dan Pena" to pimp his shit and his overpriced book. Keep it up and you will be removed from this forum. This is not a place to promote your cloaked fly-by-seo strategies.

Oh gee, and an IP address from China too! We aren't idiots around here and this shit might fly on other forums, but not here.

I gotta tell ya, having you and Runum as guard dogs on this forum is fantastic, thanks for the work you and the other moderators do to keep this kind of crap out of here.

*going to wipe brown off my nose now.....
:thankyousign:
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

CommonCents

Silver Contributor
Speedway Pass
User Power
Value/Post Ratio
69%
Apr 14, 2009
1,167
810
MN
Don't depend on franchisor for info, call up several out of town franchisees. They'll be happy to share all kinds of info with you and give you the scoop.
 

recon

PARKED
User Power
Value/Post Ratio
0% - New User
May 12, 2009
9
0
get some skills at repairing stuff or a good career to start, (thats my plan to make money for other ideas) also loans
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

yveskleinsky

Silver Contributor
Speedway Pass
User Power
Value/Post Ratio
23%
Jul 26, 2007
2,215
515
46
My 02 is to look up your local Small Business Development Center (SBDC) in your area and take a class. They often offer a 6-15 week class which is kinda a crash course in starting a business for under $200. I know that on the surface running a business might just seem like having a great idea and then seeing it in motion and then dropping by and eating free hamburgers and driving around in MJ's old lambo (which I think there is a solid chance that you'd have to pry the steering wheel out of his cold, dead hands before this happens), but there is a lot of behind the scenes that you aren't seeing.

Having a good idea, or what you think is a good idea is one thing--but having a profitable business idea is another. Good ideas are a dime a dozen--a "great business idea" is something that has the math and the language behind it that proves it's a good idea. The math behind it: To buy into this franchise you will need a net worth of $750k, $250k liquid. If you don't have that, you will need to solve that piece first. You will shovel a lot out the first couple of years, not to mention that running most franchises are a full-time job as the franchisers require it to be (not all but most.) Something to look into. Start with a business plan, figure out and apply the language (terms) such as "net", "gross", "net 30", "workers comp" and "liability" to name a few. If you want to get into this business, or any business, you will need to speak the language and understand the currency. If the plan is viable, then the money will follow. If the plan isn't viable, then it's time for plan B.

If it was me, I would start small--especially if I was new to business or to the food industry. Take the SBDC class. Learn the language. Practice understanding the flow of money. Learn the lessons that come with a business. If you want to get into the food industry in a tourist town, perhaps consider starting some sort of food cart. Get a business license, get a product, (get a cart), and get going. Take notes along the way, as this is the learning curve. Once you have the basics mastered then apply them to a larger business.

The math and the language can be learned. Keep up your enthusiasm, brainstorming and believing that there is a way and that you can do it, because these traits are the foundation to any business--and probably the hardest to learn.

Keep us posted! :smxG:
 

Kung Fu Steve

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
283%
Jul 8, 2008
2,718
7,698
Road Warrior
A couple of quick thoughts:

If you eat at Rally's all the time you won't last long...

It doesn't sound like they will let you open a franchise unless you have a net worth of $750,000... what resources do you have now? Usually to get a loan like that, you must have some sort of net worth also! Not to be negative, but let's start with where you are and then where you want to go, then we can help you bridge the gap!

What do you want? What is the end result you are after? Fun? Wealth? A place to hang out? Free cheeseburgers for life?

How about getting your thoughts down on some paper so it is easier to clarify what you mean? I struggle with this too sometimes it's just another reminder for me. Paintball and spicey chicken sammiches? ... well... this sounds like a goofy dream not a real plan for wealth (if that is what you are looking for!)

MJ doesn't like giving people rides, especially if he doesn't recognize you at first :rofl:
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top